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- NYDIG has seen rapid growth
- It raised $300 million in partnership with Morgan Stanley, New York Life
- NYDIG recently started a global Insurance Solutions practice
Bitcoin-associated firm NYDIG has roped in John Dalby, CFO of Bridgewater Associates, who will now head the Bitcoin trading and custody services provider.
NYDIG offers technology and financial services dedicated to Bitcoin firms. It has seen rapid growth and recently raised $300 million in partnership with Morgan Stanley, New York Life, and MassMutual.
Theblockcrypto.com reported that John Dalby, CFO of Bridgewater Associates, has now joined NYDIG. NYDIG has recently started a global Insurance Solutions practice that will create bitcoin-powered products and services for the worldwide insurance industry.
Perfecting safe methodology to assess BTC
Theblockcrypto.com quoted Dalby, and he said that NYDIG had shown remarkable growth. More and more industries have realized the power of Bitcoin and are enquiring about a safe methodology to assess BTC. Dalby added that he also shared the NYDIG vision of using Bitcoin to propel economic empowerment.
NYDIG has shaken hands with fintech firm FIS, a Fortune 500 company, to enable banks to offer bitcoin facilities to their consumers. The Block quoted NYDIG president Yan Zhao who said that the firm is fully capable of making institutional investors comfortable with investing in bitcoin.
Talking about the former employee of John Dalby, who was a chief financial officer at Bridgewater Associates, it is still to make its foray into the crypto market.
Bridgewater’s director of investment research, Rebecca Patterson, was quoted by Block as saying that the firm could invest in bitcoin if certain conditions are met. It includes reduced volatility, increase in liquidity increases, and some form of regulatory mechanism is in place.
Dalby Will stay with Bridgewater till the Second quarter of 2021
Dalby has worked for Bridgewater and managed the $150 billion company for less than three years as per his LinkedIn profile. He had earlier served as the CFO at D.E.
Shaw Renewables and had spent more than two decades at UBS Group AG. Bridgewater has said that Dalby will be with the company till the end of the second quarter of 2021 to ensure a smooth transfer. It is already looking for Dalby’s replacement.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
